Singapore-based boutique asset manager Paragon Capital Management (PCM) has received licences from the Securities and Futures Commission of Hong Kong to operate its advisory and asset management businesses.
Following the opening of its Hong Kong office in June 2024, the firm announced its licensing approval on Tuesday, according to a company statement. It has received the licence for Type 4 (advising on securities) and Type 9 (asset management) regulated activities.
Entities providing guidance on securities investments to clients, such as financial advisory firms or investment advisory companies, require the Type 4 licence, while a general partner that conducts fund management business must be approved with the Type 9 licence.
“As Hong Kong rose to third place globally in the Global Financial Centres Index, we strongly believe that our team in Hong Kong will provide clients with a globalised and diversified platform to preserve and grow their wealth.” said CEO of PCM’s Hong Kong business, Arthur Fong.
The asset manager’s Hong Kong office is run by Singaporean private banking veterans Fong and Faye Ng as COO. Fong has held leadership roles at Citigroup Private Bank, UBS AG, and Bank of Singapore, while Ng was most recently at VP Wealth Management and with Pictet and Julius Baer prior to that.
PCM launched Paragon Ventures I, an early-stage, sector agnostic venture capital fund, in 2021. The fund has invested in startups including Singapore’s B2B payments and procurement platform DOXA and lithium-ion battery recycling company NEU Battery Materials.
PCM is a boutique asset management firm with assets under management of around S$1.2 billion ($879 million). It provides investment solutions and wealth management services to investors, including institutional clients.
